UNIDROIT participates in the 5th Shanghai Arbitration Forum

On 8 November 2023, UNIDROIT participated in the 5th Shanghai Arbitration Forum “New Technologies, New Tracks and New Momentum, New Advantages”, which was part of the 2023 Shanghai Arbitration Week and took place in Shanghai, People’s Republic of China.

The conference was organised by the Shanghai Municipal Bureau of Justice, the Council for the Promotion of International Trade Shanghai and the Shanghai Arbitration Association, and hosted by the Shanghai International Economic and Trade Arbitration Commission (also known as the  Shanghai International Arbitration Center, or SHIAC), the Shanghai Arbitration Commission and the China Maritime Arbitration Commission Shanghai Headquarters. The conference featured the opening ceremony of the 2023 Shanghai Arbitration Week and brought together more than 400 participants, including stakeholders from across Asia and representatives from international institutes, to discuss the challenges and opportunities of technology in arbitration.

UNIDROIT President Professor Maria Chiara Malaguti delivered opening remarks with a focus on the effects of digitalisation and the role of UNIDROIT legal instruments. Professor Malaguti noted that new technologies require new tracks in law, and she highlighted the role of UNIDROIT in providing harmonised and uniform approaches, including in the field of technology. Professor Malaguti referenced the recently-adopted UNIDROIT Principles on Digital Assets and Private Law (DAPL Principles), which offer a functional solution to challenges and complexities related to digital assets and aim at accommodating the new needs of the market.

UNIDROIT Legal Consultant Ms Theodora Kostoula participated in the panel on “Focusing on New Technologies and Cultivating New Driving Forces for the Development of International Commercial Arbitration”. Ms Kostoula presented the UNIDROIT Principles on Digital Assets and Private Law (DAPL Principles) and discussed their role in promoting legal certainty, among other things, in the context of arbitration. Ms Kostoula elaborated on the situation where digital assets are the subject matter of dispute resolution and highlighted the role of the DAPL Principles in assisting users to solve complexities uniformly, considering the strong cross-border element. It is anticipated that the UNIDROIT DAPL Principles will assume growing significance in the realm of arbitration in relation to disputes involving digital assets.

More information can be found in the agenda.

More information on the DAPL Principles can be found here.

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